Posted on: Tuesday 8th of November 2011
Our midata event takes place tomorrow and we wanted to say thank you to our sponsors Mydex and Callcredit for supporting us. Both organisations provide revolutionary services embracing and underpinning the new personal data landscape.
Tom Ilube from Callcredit will be giving an update at the event on Noddle a ‘poster child’ of midata. The service simply turns the existing personal credit rating on its head. Usual practice for credit reports is that they are requested by the credit provider at the end of a sales process. But when it is launched later this year, Noddle will allow any individual in the UK to see and access free of charge the credit report data that Callcredit holds about them. This includes information such as: financial accounts including the balance, credit limit, payment history and date when opened; registration on electoral roll; previous credit report searches they have made (or a third party has made about them); county court judgements in relation to bankruptcy; addresses linked to financial accounts; and financial relationships such as joint marital accounts. Noddle then enables the individual to use this credit report to inform searches for new products and services by requesting a ‘confidence rating’ regarding whether their application is likely to be accepted. Individuals can then assess the most suitable deal for them – from loan applications to purchasing credit cards – before the sales process begins, saving a huge amount of time and improving the overall decision. With reference to the novel name Noddle, Tom Ilube told the BBC last week, “Even though you’re giving data back to consumers, you’ve still got to sell it, and that includes branding it.”
We’ll also hear from Mydex at the event. Mydex has had a really exciting year. David Alexander will be talking about their personal data store service, a cloud-based, secure place for individuals to record, manage, use and share their own personal data for their own needs. As large data holding businesses embrace midata and start the process of data-sharing, services like Mydex are crucial to enable individuals to realise the value of their data. Mydex has just completed a pilot of the world’s first live personal data store service working with a range of parties including the Cabinet Office, Directgov, YouGov, three London Councils, the Information Commissioner’s Office, BT and Experian. They are currently implementing the key lessons and insights from the pilot to deliver an exceptional user experience full of convenience and intuitive tools. We’ll hear more news on the plans for the live service tomorrow.
We’ll post an update from the event on our blog on Thursday.